Common use of Effect of Event of Default Clause in Contracts

Effect of Event of Default. If any Event of Default described in Section 12.1.4 shall occur, the Commitments (if they have not theretofore terminated) shall immediately terminate and the Loans and all other obligations hereunder shall become immediately due and payable and the Company shall become immediately obligated to Cash Collateralize all Letters of Credit and the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ Acceptances, all without presentment, demand, protest or notice of any kind; and, if any other Event of Default shall occur and be continuing, the Administrative Agent (upon written request of the Required Lenders) shall declare the Commitments (if they have not theretofore terminated) to be terminated and/or declare all Loans and all other obligations hereunder to be due and payable and/or demand that the Company immediately Cash Collateralize all Letters of Credit and the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ Acceptances, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and/or all Loans and all other obligations hereunder shall become immediately due and payable and/or the Company shall immediately become obligated to Cash Collateralize all Letters of Credit and the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ Acceptances, all without presentment, demand, protest or notice of any kind. The Administrative Agent shall promptly advise the Borrowers of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoing, the effect as an Event of Default of any event described in Section 12.1.1 or Section 12.1.4 may be waived by the written concurrence of all of the Lenders, and the effect as an Event of Default of any other event described in this Section 12 may be waived by the written concurrence of the Required Lenders. Any Cash Collateral delivered hereunder shall be held by the Administrative Agent or the Canadian Agent, as applicable (without liability for interest thereon), and applied to obligations arising in connection with any drawing under a Letter of Credit or Bankers’ Acceptances, as applicable. After the expiration or termination of all Letters of Credit, such Cash Collateral shall be applied by the Administrative Agent to any remaining obligations hereunder and any excess shall be delivered to the Company or as a court of competent jurisdiction may elect.

Effect of Event of Default. If any Event of Default described in Section 12.1.4 12.1.3 shall occur, the Commitments (if they have not theretofore terminated) shall immediately terminate and the Loans and all other obligations hereunder shall become immediately due and payable and the Company shall become immediately obligated to Cash Collateralize deliver to the Administrative Agent cash collateral in an amount equal to the outstanding face amount of all Letters of Credit and the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ AcceptancesCredit, all without presentment, demand, protest or notice of any kind; and, if any other Event of Default shall occur and be continuing, the Administrative Agent (upon written request of the Required Lenders) shall declare the Commitments (if they have not theretofore terminated) to be terminated and/or declare all Loans and all other obligations hereunder to be due and payable and/or demand that the Company immediately Cash Collateralize deliver to the Administrative Agent cash collateral in amount equal to the outstanding face amount of all Letters of Credit and the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ AcceptancesCredit, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and/or all Loans and all other obligations hereunder shall become immediately due and payable and/or the Company shall immediately become obligated to Cash Collateralize deliver to the Administrative Agent cash collateral in an amount equal to the face amount of all Letters of Credit and the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ AcceptancesCredit, all without presentment, demand, protest or notice of any kind. The Administrative Agent shall promptly advise the Borrowers Company of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoing, the effect as an Event of Default of any event described in Section 12.1.1 or Section 12.1.4 may be waived by the written concurrence of all of the Lenders, and the effect as an Event of Default of any other event described in this Section 12 may be waived by the written concurrence of the Required Lenders. Any Cash Collateral cash collateral delivered hereunder shall be held by the Administrative Agent or the Canadian Agent, as applicable (without liability for interest thereon), ) and applied to obligations arising in connection with any drawing under a Letter of Credit or Bankers’ Acceptances, as applicableCredit. After the expiration or termination of all Letters of Credit, such Cash Collateral cash collateral shall be applied by the Administrative Agent to any remaining obligations hereunder and any excess shall be delivered to the Company or as a court of competent jurisdiction may elect.. 63 SECTION 13 PARENT GUARANTY 13.1 The Guaranty. The Parent hereby irrevocably and unconditionally guarantees as a primary obligor the full and punctual payment when due (whether at stated maturity, upon acceleration or otherwise) of all Guaranteed Obligations, including all principal of the Loans, all reimbursement obligations in respect of Letters of Credit, all interest on the foregoing and all fees payable hereunder (including all interest and fees accruing after the commencement of a bankruptcy, insolvency or similar proceeding with respect to the Company, regardless of whether such interest or fees constitute an allowed claim in such proceeding) and all other amounts payable hereunder or any other Loan Document. 13.2

Effect of Event of Default. If any Event of Default described in Section 12.1.4 7.01(b) of this Agreement shall occur, maturity of each of the Commitments (if they have not theretofore terminated) Loans shall immediately terminate be accelerated and each of the Notes and the Loans evidenced thereby, and all other obligations hereunder indebtedness and any other payment Obligations of the Company to the Lender shall become immediately due and payable, and the obligation of the Lender to make any Advance or Center Financing Advance shall immediately terminate, all without notice of any kind. If any Event of Default described in Section 7.01(a) shall occur in respect of the Unsecured Center Financing Advances, Vaso may accelerate payment of the Unsecured Center Financing Advances and declare the Notes evidencing the Unsecured Center Financing Advances and all other Unsecured Obligations for payment due and payable, whereupon the maturity of such Unsecured Center Financing Advances shall be accelerated and each of said Notes and the Unsecured Center Financing Advances evidenced thereby, and all other Unsecured Obligations for payment shall become immediately due and payable and the Company obligation of Vaso to make any Unsecured Center Financing Advances shall become immediately obligated to Cash Collateralize all Letters of Credit and the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ Acceptancesterminate, all without presentment, demand, protest or notice of any kind; and, if . When any other Event of Default shall occur has occurred and be is continuing, the Administrative Agent (upon written request Majority Lender may accelerate payment of the Required Lenders) shall Loans and declare the Commitments (if they have not theretofore terminated) to be terminated and/or declare all Loans Notes and all other obligations hereunder to be payment Obligations due and payable and/or demand that payable, whereupon maturity of each of the Company immediately Cash Collateralize all Letters Loans shall be accelerated and each of Credit the Notes and the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ AcceptancesLoans evidenced thereby, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and/or all Loans and all other obligations hereunder payment Obligations shall become immediately due and payable and/or and the Company obligation of the Lender to make any Advance or Center Financing Advance shall immediately become obligated to Cash Collateralize all Letters of Credit and the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ Acceptancesterminate, all without presentment, demand, protest or notice of any kind. The Administrative Agent Lender or such other holder shall promptly advise the Borrowers Company of any such declaration, but failure to do so shall not impair the effect of such declaration. Each Lender shall be entitled to enforce only the Notes and other Obligations that are owed to such Lender. Notwithstanding the foregoingprovisions of Article II, the effect Initial Lender (which is also the Secured Party under the Security Agreement) shall be entitled to apply all collections of Collateral so as an Event of Default of to satisfy first all Obligations hereunder other than Unsecured Obligations before any event described in Section 12.1.1 or Section 12.1.4 may be waived by the written concurrence of all such collections are used to satisfy any Unsecured Obligations. The remedies of the LendersLender specified in this Agreement or in any other Loan Document shall not be exclusive, and the effect as an Event of Default Lender may avail itself of any other event described in this Section 12 may be waived remedies provided by the written concurrence of the Required Lenders. Any Cash Collateral delivered hereunder shall be held by the Administrative Agent or the Canadian Agent, law as applicable (without liability for interest thereon), and applied to obligations arising in connection with well as any drawing under a Letter of Credit or Bankers’ Acceptances, as applicable. After the expiration or termination of all Letters of Credit, such Cash Collateral shall be applied by the Administrative Agent to any remaining obligations hereunder and any excess shall be delivered equitable remedies available to the Company or as a court of competent jurisdiction may electLender.

Effect of Event of Default. If any Event of Default described in Section 12.1.4 shall occur, the Revolving Commitments (if they have not theretofore terminated) shall immediately terminate and the Loans and all other obligations Obligations hereunder shall become immediately due and payable and the Company Borrowers shall become immediately obligated to Cash Collateralize deliver to the Administrative Agent cash collateral in an amount equal to the outstanding face amount of all Letters of Credit and for which the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ AcceptancesIssuing Bank is liable, all without presentment, demand, protest or notice of any kind; and, if in the case of any other Event of Default shall occur and be continuingDefault, the Administrative Agent may (and upon written request of the Required LendersLenders shall) shall declare the Revolving Commitments (if they have not theretofore terminated) to be terminated and/or declare all Loans and all other obligations Obligations hereunder to be due and payable payable, and/or demand that the Company Borrowers immediately deliver to the Administrative Agent cash and Cash Collateralize Equivalent Investments and other cash collateral acceptable to the Issuing Bank in an amount equal to the outstanding face amount of all Letters of Credit and for which the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ AcceptancesIssuing Bank is liable, whereupon the Revolving Commitments (if they have not theretofore terminated) shall immediately terminate and/or all Loans and all other obligations Obligations hereunder shall become immediately due and payable and/or the Company Borrowers shall immediately become obligated to Cash Collateralize deliver to the Administrative Agent cash collateral in an amount equal to the face amount of all Letters of Credit and for which the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ AcceptancesIssuing Bank is liable, all without presentment, demand, protest or notice of any kind. The Administrative Agent shall promptly advise the Borrowers Company of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoing, the effect as an Event of Default of any event described in Section 12.1.1 Sections 12.1.1, 12.1.4, 12.1.9 or Section 12.1.4 12.1.10 may be waived by the written concurrence of all of the Lenders, and the effect as an Event of Default of any other event described in this Section 12 may be waived by the written concurrence of the Required Lenders. Any Cash Collateral cash collateral delivered hereunder shall be held by the Administrative Agent or the Canadian Agent, as applicable (without liability for interest thereon), and applied to obligations arising in connection with any drawing under a Letter of Credit or Bankers’ Acceptances, as applicableCredit. After the expiration or termination of all Letters of Credit, such Cash Collateral cash collateral shall be applied by the Administrative Agent to any remaining obligations Obligations of such Borrower hereunder and any excess shall be delivered to the Company applicable Borrower or as a court of competent jurisdiction may electdirect.

Effect of Event of Default. (a) If any Event of Default described in Section 12.1.4 shall occuroccur in respect of Borrower, the Commitments (if they have not theretofore terminated) Commitment shall immediately terminate terminate, and the Loans Loan and all other obligations Obligations hereunder shall become immediately due and payable and the Company shall become immediately obligated to Cash Collateralize all Letters of Credit and the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ Acceptancespayable, all without presentment, demand, protest or notice of any kind; andkind (provided, if however, that notwithstanding the foregoing, Hedging Obligations shall terminate only in accordance with the terms of the relevant Hedging Agreement). (b) If any other Event of Default shall occur and be continuing, the Administrative Agent (upon written request of the Required Lenders) shall Lender may declare the Commitments (if they have not theretofore terminated) Commitment to be terminated in whole or in part and/or declare all Loans or any part of the Loan and all other obligations Obligations hereunder to be due and payable and/or demand that the Company immediately Cash Collateralize all Letters of Credit and the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ Acceptancespayable, whereupon the Commitments (if they have not theretofore terminated) Commitment shall immediately terminate (or be reduced, as applicable) and/or all Loans the Loan and all other obligations Obligations hereunder shall become immediately due and payable and/or the Company shall immediately become obligated to Cash Collateralize all Letters of Credit and the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ Acceptances(in whole or in part, as applicable), all without presentment, demand, protest or notice of any kind. The Administrative Agent Lender shall promptly advise the Borrowers Borrower of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding The date on which the foregoing, Commitment shall immediately terminate as provided in clause (a) or (b) shall be the effect as an Event of Default of “Termination Date”. Nothing contained herein is intended to restrict the Lender’s rights under any event described in Section 12.1.1 or Section 12.1.4 may be waived by the written concurrence of all of the LendersLoan Documents or at law or in equity, and the effect Lender may exercise all such rights and remedies as an Event and when they are available, including all other rights and remedies for default provided by the UCC, as well as any other applicable law and this Agreement, INCLUDING, WITHOUT LIMITATION, THE RIGHT TO REPOSSESS, RENDER UNUSABLE AND/OR DISPOSE OF THE COLLATERAL WITHOUT JUDICIAL PROCESS. The rights and remedies specified herein are cumulative and are not exclusive of Default any rights or remedies which the Lender would otherwise have, and Borrower shall be liable for all costs of collection, including Lender’s reasonable attorney’s fees. The Lender may permit the Borrower to attempt to remedy any default without waiving its rights and remedies hereunder, and the Lender may waive any default without waiving any other subsequent or prior default by the Borrower. Furthermore, delay on the part of the Lender in exercising any right, power or privilege hereunder or at law shall not operate as a waiver thereof, nor shall any single or partial exercise of such right, power or privilege preclude other exercise thereof or the exercise of any other event described in this Section 12 may be waived by the written concurrence of the Required Lendersright, power or privilege. Any Cash Collateral delivered hereunder No waiver nor suspension shall be held by deemed to have occurred unless the Administrative Agent Lender has expressly agreed in writing specifying such waiver or the Canadian Agent, as applicable (without liability for interest thereon), and applied to obligations arising in connection with any drawing under a Letter of Credit or Bankers’ Acceptances, as applicable. After the expiration or termination of all Letters of Credit, such Cash Collateral shall be applied by the Administrative Agent to any remaining obligations hereunder and any excess shall be delivered to the Company or as a court of competent jurisdiction may elect.suspension

Effect of Event of Default. If any Event of Default described in Section 12.1.4 8.1(e) shall occur, the Commitments (if they have not theretofore terminated) shall immediately terminate and the Loans and all other obligations Obligations hereunder shall become immediately due and payable and the Company shall become immediately obligated to Cash Collateralize all Letters of Credit and the Canadian Borrower shall become immediately obligated to Cash Collateralize deliver to the Administrative Agent for deposit in the LC Collateral Account pursuant to Section 3.8 cash and/or Permitted Investments in an amount equal to the aggregate undrawn stated amount of all Bankers’ Acceptancesoutstanding Letters of Credit and to repay all Loans and Reimbursement Obligations, all without presentment, demand, protest or notice of any kind; and, if in the case of any other Event of Default shall occur and be continuingDefault, the Administrative Agent (may, and upon the written request of the Required Lenders) shall declare Lenders shall, terminate the Commitments (if they have not theretofore terminated) to be terminated and/or hereunder and declare all Loans or any portion of the Credit Extensions and all other obligations hereunder Obligations to be due and payable and/or and demand that the Company Borrower immediately Cash Collateralize deliver to the Administrative Agent for deposit in the LC Collateral Account pursuant to Section 3.8 cash and/or Permitted Investments in an amount equal to the aggregate undrawn stated amount of all outstanding Letters of Credit and the Canadian Borrower shall become immediately obligated to Cash Collateralize repay all Bankers’ AcceptancesLoans and Reimbursement Obligations, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and/or all Loans and all other obligations hereunder or such portion of the Obligations shall become immediately due and payable and/or and the Company Borrower shall immediately become obligated deliver to Cash Collateralize the Administrative Agent for deposit in the LC Collateral Account pursuant to Section 3.8 cash and/or Permitted Investments in an amount equal to the aggregate undrawn stated amount of all outstanding Letters of Credit and the Canadian Borrower shall become immediately obligated to Cash Collateralize repay all Bankers’ AcceptancesLoans and Reimbursement Obligations, all without presentment, demand, protest or further notice of any kind. The Administrative Agent shall promptly advise the Borrowers Borrower of any such declaration, declaration but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoing, the effect as an Event of Default of any event described in Section 12.1.1 or Section 12.1.4 8.1(a) may not be waived except by the written concurrence consent of all of the Lenders, Lenders and the effect as an Event of Default of any other event described in this Section 12 may be waived by the written concurrence of the Required Lenders. Any Cash Collateral delivered hereunder shall be held acknowledged by the Administrative Agent or the Canadian Agent, as applicable (without liability for interest thereon), and applied to obligations arising in connection with any drawing under a Letter of Credit or Bankers’ Acceptances, as applicable. After the expiration or termination of all Letters of Credit, such Cash Collateral shall be applied by the Administrative Agent to any remaining obligations hereunder and any excess shall be delivered to the Company or as a court of competent jurisdiction may electwriting.

Effect of Event of Default. If any Event of Default described in Section 12.1.4 11.1.4 shall occur, the Commitments (if they have not theretofore terminated) shall immediately terminate and the Loans Notes and all other obligations hereunder shall become immediately due and payable and the Company Borrowers shall become immediately obligated to Cash Collateralize deliver to the Bank cash collateral in an amount equal to the outstanding face amount of all Letters of Credit and the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ AcceptancesCredit, all without presentment, demand, protest or notice of any kind; and, if any other Event of Default shall occur and be continuing, the Administrative Agent (upon written request of the Required Lenders) Bank shall declare the Commitments (if they have not theretofore terminated) to be terminated and/or declare all Loans Notes and all other obligations hereunder to be due and payable and/or demand that the Company Borrowers immediately Cash Collateralize deliver to the Bank cash collateral in amount equal to the outstanding face amount of all Letters of Credit and the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ AcceptancesCredit, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and/or all Loans Notes and all other obligations hereunder shall become immediately due and payable and/or the Company Borrowers shall immediately become obligated to Cash Collateralize deliver to the Bank cash collateral in an amount equal to the face amount of all Letters of Credit and the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ AcceptancesCredit, all without presentment, demand, protest or notice of any kind. The Administrative Agent Bank shall promptly advise the Borrowers of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoing, the effect as an Event of Default of any event described in Section 12.1.1 11.1.1 or Section 12.1.4 11.1.4 may be waived by the written concurrence of all of the LendersBank, and the effect as an Event of Default of any other event described in this Section 12 11 may be waived by the written concurrence of the Required LendersBank. Any Cash Collateral cash collateral delivered hereunder shall be held by the Administrative Agent or the Canadian Agent, as applicable Bank (without liability for interest thereon), ) and applied to obligations arising in connection with any drawing under a Letter of Credit or Bankers’ Acceptances, as applicableCredit. After the expiration or termination of all Letters of Credit, such Cash Collateral cash collateral shall be applied by the Administrative Agent Bank to any remaining obligations hereunder and any excess shall be delivered to the Company Borrowers or as a court of competent jurisdiction may elect.

Effect of Event of Default. If any Event of Default described in Section 12.1.4 12.1.3 shall occuroccur with respect to the Company, the Commitments (if they have not theretofore terminated) shall immediately terminate and the Loans and all other obligations hereunder shall become immediately due and payable and the Company shall become immediately obligated to deliver to the Administrative Agent Cash Collateralize Collateral in an amount equal to the outstanding Dollar Equivalent face amount of all Letters of Credit and the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ AcceptancesCredit, all without presentment, demand, protest or notice of any kind; and, if any other Event of Default shall occur and be continuing, the Administrative Agent (upon written request of the Required LendersBanks) shall declare the Commitments (if they have not theretofore terminated) to be terminated and/or declare all Loans and all other obligations hereunder to be due and payable and/or demand that the Company immediately deliver to the Administrative Agent Cash Collateralize Collateral in amount equal to the outstanding Dollar Equivalent face amount of all Letters of Credit and the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ AcceptancesCredit, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and/or all Loans and all other obligations hereunder shall become immediately due and payable and/or the Company shall immediately become obligated to deliver to the Administrative Agent Cash Collateralize Collateral in an amount equal to the Dollar Equivalent face amount of all Letters of Credit and the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ AcceptancesCredit, all without presentment, demand, protest or notice of any kind. The Administrative Agent shall promptly advise the Borrowers Company in writing of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoing, the effect as an Event of Default of any event described in Section 12.1.1 or Section 12.1.4 12.1.3 may be waived by the written concurrence of all of the LendersBanks, and the effect as an Event of Default of any other event described in this Section 12 may be waived by the written concurrence of the Required LendersBanks. Any Cash Collateral delivered hereunder shall be held by the Administrative Agent or the Canadian Agent, as applicable (without liability for interest thereon), and applied to obligations arising in connection with any drawing under a Letter of Credit or Bankers’ Acceptances, as applicableCredit. After the expiration or termination of all Letters of Credit, such Cash Collateral shall be applied by the Administrative Agent to any remaining obligations hereunder and any excess shall be delivered to the Company or as a court of competent jurisdiction may electdirect.

Effect of Event of Default. If any Event of Default described in Section 12.1.4 13.1.4 shall occur, the Commitments (if they have not theretofore terminated) shall immediately terminate and the Loans and all other obligations Obligations hereunder shall become immediately due and payable and the Company each Borrower shall become immediately obligated to Cash Collateralize all Letters of Credit and the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ AcceptancesCredit, all without presentment, demand, protest or notice of any kind; and, if any other Event of Default shall occur and be continuing, the Administrative Agent may (and, upon written request of the Required LendersLenders shall) shall declare the Commitments (if they have not theretofore terminated) to be terminated in whole or in part and/or declare all or any part of the Loans and all other obligations Obligations hereunder to be due and payable and/or demand that the Company each Borrower immediately Cash Collateralize all or any Letters of Credit and the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ AcceptancesCredit, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate (or be reduced, as applicable) and/or all the Loans and all other obligations Obligations hereunder shall become immediately due and payable (in whole or in part, as applicable) and/or the Company each Borrower shall immediately become obligated to Cash Collateralize all the Letters of Credit (all or any, as applicable) and/or the Administrative Agent may instruct the Security Trustee to exercise its rights, powers and authorities relating to enforcement under the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ AcceptancesCollateral Documents, all without presentment, demand, protest or notice of any kind. The Administrative Agent shall promptly advise the Borrowers of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoing, the effect as an Event of Default of any event described in Section 12.1.1 13.1.1 or Section 12.1.4 13.1.4 may be waived by the written concurrence of all of the Lenders, and the effect as an Event of Default of any other event described in this Section 12 13 may be waived by the written concurrence of the Required Lenders. Any Cash Collateral cash collateral delivered hereunder shall be held by the Administrative Agent or the Canadian Agent, as applicable (without liability for interest thereon), ) and applied to obligations the Obligations arising in connection with any drawing under a Letter of Credit or Bankers’ Acceptances, as applicableCredit. After the expiration or termination of all Letters of Credit, such Cash Collateral cash collateral shall be applied by the Administrative Agent to any remaining obligations Obligations hereunder and any excess shall be delivered to the Company Borrowers or as a court of competent jurisdiction may elect.

Effect of Event of Default. If any (a) an Event of Default described in Section 12.1.4 10.1.2 shall occurhave occurred, (b) any Guarantor Event of Default described in Section 12(c) of the ILFC Guaranty shall have occurred or (c) the Indenture Trustee shall have declared the Indenture Notes to be immediately due and payable or the Indenture Notes shall otherwise have become immediately due and payable, then the Commitments (if they have not theretofore terminated) shall immediately terminate and the all Loans and all interest and other obligations amounts due hereunder shall become immediately due and payable and the Company shall become immediately obligated to Cash Collateralize all Letters of Credit and the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ Acceptancespayable, all without presentment, demand, protest demand or notice of any kind, all of which are hereby waived by the Borrower; and, if in the case of any other Event of Default shall occur and be continuingDefault, the Administrative Agent (may, and upon written request of the Required Lenders) shall Banks shall, declare the Commitments (if they have not theretofore terminated) to be terminated and/or declare and all Loans and all interest and other obligations amounts due hereunder to be due and payable and/or demand that the Company immediately Cash Collateralize all Letters of Credit and the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ Acceptancespayable, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and/or and all Loans and all interest and other obligations amounts due hereunder shall become immediately due and payable and/or the Company shall immediately become obligated to Cash Collateralize all Letters of Credit and the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ Acceptancespayable, all without presentment, demand, protest demand or notice of any kind, all of which are hereby waived by the Borrower. The Administrative Agent shall promptly advise the Borrowers Borrower, each Bank, the Guarantor, the Indenture Trustee, the Servicer and the Security Trustee of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding The Banks agree that all remedies to be taken with respect to (x) the foregoingCollateral shall be exercised by the Security Trustee acting in accordance with the terms of the Security Trust Agreement and (y) the ILFC Guaranty and any SPV Guaranty shall be exercised by the Security Trustee acting in accordance with the terms of the ILFC Guaranty, such SPV Guaranty and the Security Trust Agreement. Upon the written direction of 100% of the Banks, the effect as an Event Agent will, by written notice to the Borrower, the Indenture Trustee, the Guarantor, the Servicer and the Security Trustee, rescind and annul any declaration made pursuant to this Section 10.2 thereby annulling its consequences if: (i) there has been paid to the Banks amounts sufficient to pay all overdue installments of Default of any event described in Section 12.1.1 or Section 12.1.4 may be waived by interest on the written concurrence of all of the LendersLoans, and the effect as an Event principal of the Loans that would have become due other than by reason of such declaration of acceleration; (ii) the rescission does not conflict with any judgment or decree; (iii) all Events of Default (other than the Events of any other event described in this Section 12 may be waived Default arising solely by reason of such acceleration) have been cured or waived; and (iv) the written concurrence acceleration of the Required Lenders. Any Cash Collateral delivered hereunder shall be held by Indenture Notes has been rescinded pursuant to Section 5.02 of the Administrative Agent or the Canadian Agent, as applicable (without liability for interest thereon), and applied to obligations arising in connection with any drawing under a Letter of Credit or Bankers’ Acceptances, as applicable. After the expiration or termination of all Letters of Credit, such Cash Collateral shall be applied by the Administrative Agent to any remaining obligations hereunder and any excess shall be delivered to the Company or as a court of competent jurisdiction may electIndenture.

Effect of Event of Default. (a) If any Event of Default described in Section 12.1.4 shall occuroccur in respect of Borrower, the Commitments (if they have not theretofore terminated) Commitment shall immediately terminate terminate, and the Loans and all other obligations Obligations hereunder shall become immediately due and payable and the Company shall become immediately obligated to Cash Collateralize all Letters of Credit and the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ Acceptancespayable, all without presentment, demand, protest or notice of any kind; andkind (provided, if however, that notwithstanding the foregoing, Hedging Obligations shall terminate only in accordance with the terms of the relevant Hedging Agreement). (b) If any other Event of Default shall occur and be continuing, the Administrative Agent (upon written request of the Required Lenders) shall Lender may declare the Commitments (if they have not theretofore terminated) Commitment to be terminated in whole or in part and/or declare all Loans or any part of the Loan and all other obligations Obligations hereunder to be due and payable and/or demand that the Company immediately Cash Collateralize all Letters of Credit and the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ Acceptancespayable, whereupon the Commitments (if they have not theretofore terminated) Commitment shall immediately terminate (or be reduced, as applicable) and/or all the Loans and all other obligations Obligations hereunder shall become immediately due and payable and/or the Company shall immediately become obligated to Cash Collateralize all Letters of Credit and the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ Acceptances(in whole or in part, as applicable), all without presentment, demand, protest or notice of any kind. The Administrative Agent Lender shall promptly advise the Borrowers Borrower of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding The date on which the foregoing, Commitment shall immediately terminate as provided in clause (a) or (b) shall be the effect as an Event of Default of “Termination Date”. Nothing contained herein is intended to restrict the Lender’s rights under any event described in Section 12.1.1 or Section 12.1.4 may be waived by the written concurrence of all of the LendersLoan Documents or at law or in equity, and the effect Lender may exercise all such rights and remedies as an Event and when they are available, including all other rights and remedies for default provided by the UCC, as well as any other applicable law and this Agreement, INCLUDING, WITHOUT LIMITATION, THE RIGHT TO REPOSSESS, RENDER UNUSABLE AND/OR DISPOSE OF THE COLLATERAL WITHOUT JUDICIAL PROCESS. The rights and remedies specified herein are cumulative and are not exclusive of Default any rights or remedies which the Lender would otherwise have, and Borrower shall be liable for all costs of collection, including Lxxxxx’s reasonable attorney’s fees. The Lender may permit the Borrower to attempt to remedy any default without waiving its rights and remedies hereunder, and the Lender may waive any default without waiving any other subsequent or prior default by the Borrower. Furthermore, delay on the part of the Lender in exercising any right, power or privilege hereunder or at law shall not operate as a waiver thereof, nor shall any single or partial exercise of such right, power or privilege preclude other exercise thereof or the exercise of any other event described in this Section 12 may be waived by the written concurrence of the Required Lendersright, power or privilege. Any Cash Collateral delivered hereunder No waiver nor suspension shall be held by deemed to have occurred unless the Administrative Agent Lender has expressly agreed in writing specifying such waiver or the Canadian Agent, as applicable (without liability for interest thereon), and applied to obligations arising in connection with any drawing under a Letter of Credit or Bankers’ Acceptances, as applicable. After the expiration or termination of all Letters of Credit, such Cash Collateral shall be applied by the Administrative Agent to any remaining obligations hereunder and any excess shall be delivered to the Company or as a court of competent jurisdiction may elect.suspension

Effect of Event of Default. If any Event of Default described in Section 12.1.4 shall occur, the Commitments (if they have not theretofore terminated) shall immediately terminate and the Loans Notes and all other obligations hereunder shall become immediately due and payable and the Company shall become immediately obligated to Cash Collateralize all Letters of Credit and the Canadian each Borrower shall become immediately obligated to Cash Collateralize deliver to the Agent cash collateral in an amount equal to the outstanding face amount of all Bankers’ AcceptancesLetters of Credit issued for the account of such Borrower, all without presentment, demand, protest or notice of any kind; and, if in the case of any other Event of Default shall occur and be continuingDefault, the Administrative Agent may (and upon written request of the Required LendersBanks shall) shall declare the Commitments (if they have not theretofore terminated) to be terminated and/or declare all Loans Notes and all other obligations hereunder to be due and payable and/or demand that each Borrower immediately deliver to the Company immediately Cash Collateralize Agent cash collateral in an amount equal to the outstanding face amount of all Letters of Credit and issued for the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ Acceptancesaccount of such Borrower, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and/or all Loans Notes and all other obligations hereunder shall become immediately due and payable and/or the Company each Borrower shall immediately become obligated to Cash Collateralize deliver to the Agent cash collateral in an amount equal to the face amount of all Letters of Credit and issued for the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ Acceptancesaccount of such Borrower, all without presentment, demand, protest or notice of any kind. The Administrative Agent shall promptly advise the Borrowers of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoing, the effect as an Event of Default of any event described in Section 12.1.1 or Section 12.1.4 may be waived by the written concurrence of all of the LendersBanks, and the effect as an Event of Default of any other event described in this Section 12 may be waived by the written concurrence of the Required LendersBanks. Any Cash Collateral cash collateral delivered hereunder shall be held by the Administrative Agent or the Canadian Agent, as applicable (without liability for interest thereon), ) and applied to obligations arising in connection with any drawing under a Letter of Credit or Bankers’ Acceptances, as applicableCredit. After the expiration or termination of all Letters of Credit, such Cash Collateral cash collateral shall be applied by the Administrative Agent to any remaining obligations of the applicable Borrower hereunder or under any other Loan document and any excess shall be delivered to the Company applicable Borrower or as a court of competent jurisdiction may electdirect.

Effect of Event of Default. If any Event of Default described in Section 12.1.4 shall occur, the Commitments (if they have not theretofore terminated) shall immediately terminate and the Loans and all other obligations hereunder shall become immediately due and payable and the Company each Borrower shall become immediately obligated to Cash Collateralize all Letters of Credit and the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ AcceptancesCredit, all without presentment, demand, protest or notice of any kind; and, if any other Event of Default shall occur and be continuing, the Administrative Agent (upon written request of the Required LendersBanks) shall declare the Commitments (if they have not theretofore terminated) to be terminated and/or declare all Loans and all other obligations hereunder to be due and payable and/or demand that the Company each Borrower immediately Cash Collateralize all Letters of Credit and the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ AcceptancesCredit, whereupon the Commitments (if they have not theretofore terminated) shall immediately terminate and/or all Loans and all other obligations hereunder shall become immediately due and payable and/or the Company each Borrower shall immediately become obligated to Cash Collateralize all Letters of Credit and/or the Agent may instruct the Security Trustee to exercise its rights, powers and authorities relating to enforcement under the Canadian Borrower shall become immediately obligated to Cash Collateralize all Bankers’ AcceptancesCollateral Documents, all without presentment, demand, protest or notice of any kind. The Administrative Agent shall promptly advise the Borrowers of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoing, the effect as an Event of Default of any event described in Section 12.1.1 or Section 12.1.4 may be waived by the written concurrence of all of the LendersBanks, and the effect as an Event of Default of any other event described in this Section 12 may be waived by the written concurrence of the Required LendersBanks. Any Cash Collateral cash collateral delivered hereunder shall be held by the Administrative Agent or the Canadian Agent, as applicable (without liability for interest thereon), ) and applied to obligations arising in connection with any drawing under a Letter of Credit or Bankers’ Acceptances, as applicableCredit. After the expiration or termination of all Letters of Credit, such Cash Collateral cash collateral shall be applied by the Administrative Agent to any remaining obligations hereunder and any excess shall be delivered to the Company Borrowers or as a court of competent jurisdiction may elect.